For your reference we provide the following summary of current federal and state government stimulus measures as well as a summary of actions being taken by the ATO to support businesses.

We will continually update this page to ensure our clients have access to the latest information and this should be your first port of call to find information on how our federal and state governments are responding to support businesses and the community through the Coronavirus crisis.

Federal Government

Support for Individuals & Households

Stimulus Measures

Key Features

Income support for individuals

6 month expansion of eligibility to income support payments and $550 Coronavirus supplement

Temporary loosening of bank capital ratios to maximise liquidity available to banks for lending to SME’s

Supporting businesses to retain jobs

Eligible Employers will receive $1,500 a fortnight (paid monthly in arrears) per eligible employee as a wage subsidy. The payment must be passed through to the employee in full even if they ordinarily earn less than $1,500 per fortnight.

The information contained on this website and in this article is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. Taxation, legal and other matters referred to on this website and in this article are of a general nature only and are based on our interpretation of laws existing at the time and should not be relied upon in place of appropriate professional advice. Those laws may change from time to time.